Spain will not take ⁠part in the Board of Peace initiative launched by President Donald Trump to tackle global conflicts, saying the decision was consistent with its belief ‍in multilateralism and the ‍United Nations system.

"We appreciate the invitation, but we decline," Spanish Prime Minister ⁠Pedro Sanchez told reporters late on Thursday after an EU summit in Brussels.

Washington says ​the body will help broker and monitor ceasefires, organize security arrangements and coordinate rebuilding in places emerging ‍from war. The concept stems from Trump's Gaza peace ⁠plan.

Missing from the board's launch ceremony held at the World Economic Forum in Switzerland's Davos on Thursday were traditional U.S. allies such ⁠as Canada, Britain ​and all ⁠European Union members except Hungary and Bulgaria.

Sanchez cited consistency with ‍Madrid's commitment to international law, the U.N. and multilateralism as ‌the main reasons it was declining to participate.

Sanchez also said the Board of Peace ⁠did ​not include the Palestinian ‍Authority.

Israel has joined the board, along with Middle Eastern countries such as ‍Qatar, Saudi Arabia and the United Arab Emirates.